GOLD GAINS   Gold prices bounced off session lows, buoyed a slump in the dollar as U.S. political uncertainty resurfaced, a

CRUDE EXTENDS GAINS FOR SIXTH-STRAIGHT DAY DESPITE RISE IN INVENTORIES

CRUDE EXTENDS GAINS FOR SIXTH-STRAIGHT DAY DESPITE RISE IN INVENTORIES

CRUDE EXTENDS GAINS Crude futures settled higher on Wednesday, as a bigger than expected drop in gasoline inventories

BUZ INVESTORS  CRUDE EXTENDS GAINS Crude futures settled higher on Wednesday, as a bigger than expected drop in gasoline inventories offset an unexpected build in crude output, easing investor concerns about a slowdown in demand for refined products.

On the New York Mercantile Exchange crude futures for August delivery rose 1.1% to settle at $44.74 a barrel, while on London’s Intercontinental Exchange, Brent added 1.34% to trade at $47.55 a barrel.

Investors mulled over a mixed weekly inventory report from the Energy Information Administration, showing a surprise build in crude stockpiles while gasoline inventories fell by more than expected.




CRUDE EXTENDS GAINS

Inventories of U.S. crude unexpectedly rose by roughly 118,000 barrels in the week ended June 23, below expectations of draw of about 2.5m barrels.

Gasoline inventories, one of the products that crude is refined into, fell by 894,000 barrels against expectations of a draw of 583,000 barrels while distillate stockpiles declined by 223,000 barrels, compared to expectations of a rise of 453,000 barrels.

The bigger-than-expected draw in gasoline stockpiles eased investor concerns about a slowdown in demand for refined products, after data in June showed stockpiles of gasoline rose back above 2016 levels and well above their five-year average.

Crude prices extended gains for a six-straight day, after falling into bear-market territory last week amid fears that an uptick in output by Nigeria and Libya were undermining Opec and its allies’ efforts to curb oversupply.

Earlier in June, Libya’s 270,000-bpd Sharara oilfield reopened while Royal Dutch Shell lifted force majeure on exports of Nigeria’s Forcados crude oil, bringing all of the West African country’s oil exports fully online for the first time in 16 months.

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COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)




Buz Investors Oil Price Pushes UK Inflation The commodity is trading at $53.32 per barrel at 10:40 GMT this morning, 0.85% higher from the New York close.

Oil prices fall as US crude inventories rise further

Oil prices fall as US crude inventories rise further

Buz Investors Oil prices fall The commodity is trading at $54.19 per barrel at 10:40 GMT this morning, 0.31% lower from the New York close.

Oil

Buz Investors Oil prices fall The commodity is trading at $54.19 per barrel at 10:40 GMT this morning, 0.31% lower from the New York close. Crude oil witnessed a high of $54.51 per barrel and a low of $54.04 per barrel during the session. In the New York session yesterday, crude oil fell 0.22% to close at $54.36 per barrel, after the EIA reported that US crude stockpiles increased slightly by 0.56 million barrels to 518.7 million barrels last week, advancing for the seventh consecutive week. Immediate downside, the first support level is seen at $53.84 per barrel, while on the upside, the first resistance level is at $54.74 per barrel.



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Oil prices fall

  EIA reported that US crude stockpiles increased slightly by 0.56 million barrels

Oil prices fell on Friday after U.S. crude inventories rose for a seventh week, showing the market is still struggling to ease oversupply despite many producers’ efforts to rein in output.

US crude stocks rose by 564,000 barrels in the week to Feb. 17, according to the Energy Information Administration (EIA), although the gain was below analysts’ expectations for an increase of 3.5 million barrels.

The continued rise in US inventories comes as members of the Organization of the Petroleum Exporting Countries and other producers have cut output.

Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.



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Buz Investors Oil prices ease The commodity is trading at $53.21 per barrel at 10:40 GMT this morning, 0.43% higher from the New York close.

Oil prices ease as U.S. crude, gasoline inventories reach record highs

Oil prices ease as U.S. crude, gasoline inventories reach record highs

Oil

Buz Investors Oil prices ease The commodity is trading at $53.21 per barrel at 10:40 GMT this morning, 0.43% higher from the New York close. Crude oil witnessed a high of $53.30 per barrel and a low of $52.95 per barrel during the session. In the New York session yesterday, crude oil rose 0.15% to close at $52.98 per barrel. Meanwhile, the EIA disclosed that US crude oil inventories advanced by 9.5 million barrels to 518.1 million barrels last week. Immediate downside, the first support level is seen at $52.83 per barrel, while on the upside, the first resistance level is at $53.55 per barrel.



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Oil prices ease

the EIA disclosed that US crude oil inventories advanced by 9.5 million barrels to 518.1 million barrels last week

Oil prices eased slightly on Wednesday in choppy trade as record high U.S. crude and gasoline inventories fed concerns about a global glut.

The bearish US inventory data was largely offset by evidence earlier this week that the Organization of the Petroleum Exporting Countries and other producers were complying with agreed-upon supply cuts. A weaker dollar also helped to support greenback-denominated oil.

“There’s a certain resilience in price – forward expectations that we are going to reduce supplies globally is holding the market,” said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut.

US crude stocks soared 9.5 million barrels last week, nearly three times forecasts, to reach a peak at 518.12 million barrels, U.S. Energy Information Administration (EIA) data showed.

U.S. gasoline stocks also hit a record, rising 2.8 million barrels to 259.1 million barrels



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Buz Investors Oil prices extend losses The commodity is trading at $52.87 per barrel at 10:40 GMT this morning, 0.43% lower from the New York close. Crude oil witnessed a high of $53.24 per barrel

Oil prices fall on bloated U.S. fuel inventories, stalling China demand

Oil prices fall on bloated U.S. fuel inventories, stalling China demand

Buz Investors Oil prices fall The commodity is trading at $51.63 per barrel at 10:40 GMT this morning, 0.14% lower

Oil

Buz Investors Oil prices fall The commodity is trading at $51.63 per barrel at 10:40 GMT this morning, 0.14% lower from the New York close. Crude oil witnessed a high of $51.83 per barrel and a low of $51.22 per barrel during the session. In the New York session yesterday, crude oil fell 1.84% to close at $51.70 per barrel, after the API disclosed that US crude stockpiles rose by 14.2 million barrels to 503.6 million barrels last week, recording its second biggest rise ever. Immediate downside, the first support level is seen at $50.92 per barrel, while on the upside, the first resistance level is at $52.63 per barrel.



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Oil prices fall

Oil prices slid on Wednesday to extend falls from the previous session, as a big increase in U.S. crude inventories and a slump in Chinese demand implied that global oil markets remain oversupplied despite OPEC-led efforts to cut output.

International Brent crude futures LCOc1 were trading at $54.81 per barrel at 1257 GMT, down 24 cents from their previous close.

U.S. West Texas Intermediate (WTI) crude CLc1 was at $51.77 a barrel, down 40 cents.

The declines came on the back of unexpectedly big increases in U.S. fuel inventories, as reported by the American Petroleum Institute (API) on Tuesday. [API/S]

Crude inventories rose by 14.2 million barrels in the week to February 3 to 503.6 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.5 million barrel increase.

“If the official data from the U.S. Department of Energy were to show a similar inventory build … U.S. crude oil stocks would be catapulted to almost a record level,” Commerzbank said in a note.



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Buz Investors Another Major Build The commodity is trading at $52.93 per barrel at 10:40 GMT this morning, 0.25% higher from the New York close. Crude oil witnessed a high of $53.09 per barrel and a low of $52.64 per barrel during the session. In the New York session yesterday, Crude oil Rose .27%

Oil Prices Fall After Another Major Build In Inventories

Oil Prices Fall After Another Major Build In Inventories

Buz Investors Another Major Build The commodity is trading at $52.93 per barrel at 10:40 GMT this morning, 0.25% higher from the New York close. Crude oil witnessed a high of $53.09 per barrel and a low of $52.64 per barrel during the session. In the New York session yesterday, Crude oil Rose .27%

Oil

Buz Investors Another Major Build  The commodity is trading at $52.93 per barrel at 10:40 GMT this morning, 0.25% higher from the New York close. Crude oil witnessed a high of $53.09 per barrel and a low of $52.64 per barrel during the session. In the New York session yesterday, Crude oil Rose .27% to close at $52.80 per barrel. However, gains in crude prices were capped after the API disclosed that US crude oil inventories rose by 5.8 million barrels to 488.0 million barrels last week. Immediate downside, the first support level is seen at $52.27 per barrel, while on the upside, the first resistance level is at $53.57 per barrel.



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Another Major Build

The energy statistics management nowadays stated a 6.five-million-barrel growth in commercial crude oil shares within the U.S., a day after the american Petroleum Institute mentioned a smaller construct in inventories of five.8 million barrels.

prices after the API record remained rather strong, maximum probably because of nice information coming from the OPEC camp: in step with numerous estimates, the contributors of the cartel have cut around 1 million bpd from their combined output, demonstrating the compliance that maximum investors were disturbing approximately after the manufacturing cut deal struck ultimate November.

In light of this, EIA’s file is also now not very probably to swing the market, specifically because the EIA referred to that general crude oil stockpiles stood at 494.eight million barrels on the end of the week to January 27, within seasonal limits.

ads with the aid of
gas inventories rose by means of three.nine million barrels within the duration, the authority additionally said, confirming and, as with crude oil inventories, topping API estimates of a 2.nine-million-barrel increase. Distillate stockpiles rose with the aid of 1.6 million barrels.

 

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Buz Investors rising US inventories The commodity is trading at $52.87 per barrel at 10:40 GMT this morning, 0.13% lower from the New York close. Crude oil witnessed a high of $53.08 per barrel and a low of $52.74 per barrel during the session. In the New

Oil slips on rising US inventories

Oil slips on rising US inventories

Oil

  • Buz Investors rising US inventories The commodity is trading at $52.87 per barrel at 10:40 GMT this morning, 0.13% lower from the New York close.
  • Crude oil witnessed a high of $53.08 per barrel and a low of $52.74 per barrel during the session. In the New York session yesterday, crude oil rose 0.08% to close at $52.94 per barrel, extending its previous session gains. Separately, the API disclosed that US crude oil inventories rose more than expected by 2.9 million barrels last week.
  • Immediate downside, the first support level is seen at $52.51 per barrel, while on the upside, the first resistance level is at $53.40 per barrel.




rising US inventories

Buz Investors rising US inventories The commodity is trading at $52.87 per barrel at 10:40 GMT this morning, 0.13% lower from the New York close. Crude oil witnessed a high of $53.08 per barrel and a low of $52.74 per barrel during the session. In the New

rising US inventories Oil costs fell on Wednesday after builds in U.S. inventories reinforced expectations that growing shale output this 12 months might lessen the effect of manufacturing cuts via OPEC and different principal exporters.
Benchmark Brent crude was down 1 consistent with cent or 54 cents a barrel at US$fifty four.ninety by way of 1024 GMT. U.S. mild crude turned into down 52 cents at $52.66.

 

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rising US inventories 

Weekly stock information from the american Petroleum Institute (API) late on Tuesday confirmed U.S. crude, gasoline and diesel shares rose extra than expected final week.
The U.S. government’s power statistics administration (EIA) reports its personal facts at 1530 GMT and buyers will appearance to see whether the reliable figures confirm the industry’s numbers.
“The API record became bearish,” stated Tamas Varga, senior analyst at London brokerage PVM Oil pals. “count on greater strain on prices if the EIA shows similar numbers.”

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USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD Canadian Dollar Unchanged Ahead of Crude Inventories and Trump Speech

USDCAD Canadian Dollar Unchanged Ahead of Crude Inventories and Trump Speech

USDCAD

  • Buz Investors Canadian Dollar Unchanged The pair is trading at 1.3233 at 10:40 GMT this morning, with the USD trading marginally higher against CAD from the New York close.
  • The pair traded at a high of 1.3254 and a low of 1.3213 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.18% lower at 1.3230.
  • Data showed that Canada’s seasonally adjusted housing starts rose more than estimated in December, whereas building permits declined on a monthly basis in November. The pair is expected to its find support at 1.3196 and its first resistance at 1.3264.

Canadian Dollar Unchanged

USDCAD Trump Shock Pushes Canadian Dollar Down

Canadian Dollar Unchanged  within the Wednesday consultation. Early within the North American session, USD/CAD is trading at 1.3250. On the release the front, there are no Canadian occasions on the schedule. in the US, Crude Oil Inventories is predicted to put up a surplus of zero.9 million barrels. As nicely, president-elect Donald Trump will host a press convention later within the day. On Thursday, the united states releases unemployment claims, with the indicator predicted to upward push to 266 thousand.

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Canadian Dollar Unchanged

With simplest a handful of events on the Wednesday time table, the markets might be preserving a near eye on the Trump display later within the day. Trump will host a press convention out of the Trump Towers in the big apple metropolis. Trump hasn’t spoken formally with the press in six months, choosing instead to ship pithy and frequently debatable feedback on his Twitter account. The president-pick had lots to mention about the ills of the us economic system at the marketing campaign path, however become quick on specifics. He has long past on file promising tax cuts and vast fiscal spending to repair the usa’s infrastructure. Trump has stated he will put into effect protectionist policies, which has lessened investors’ appetite for chance. The markets might be hoping for extra specifics approximately economic coverage, with just over per week till Inauguration Day. the united states greenback has climbed sharply considering mid-November, as the usa economic system sails complete steam ahead in 2017.

Canada and the united states each released key process statistics on Friday, and there was effective information on each facets of the border. Canadian Employment change sparkled with a advantage of 53.7 thousand,

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)

Oil prices stablilze on expected drop in US inventories

Oil prices stablilze on expected drop in US inventories

Oil prices stablilze on expected drop in US inventories

Oil

  • Buz Investors Oil prices stablilze The commodity is trading at $52.46 per barrel at 10:40 GMT this morning, a tad lower u from the New York close.
  • Crude oil witnessed a high of $52.96 per barrel and a low of $52.38 per barrel during the session. In the New York session yesterday, crude oil fell 4.58% to close at $52.47 per barrel, surrendering its previous session gains.
  • Immediate downside, the first support level is seen at $51.32 per barrel, while on the upside, the first resistance level is at $54.38 per barrel.

Oil prices stablilze

Oil prices stablilze on expected drop in US inventories

Oil prices stablilze  Oil costs recovered on Wednesday from a steep drop in the previous consultation on expectancies that U.S. crude inventories are falling and symptoms that oil producers will stick to agreed output cuts that took effect this week.

worldwide benchmark Brent crude futures were down three cents at $55.forty four a barrel with the aid of nine:46 a.m. ET (1446 GMT). The agreement reached an 18-month high in the preceding consultation, however a robust dollar has shaved off maximum of these profits.

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Oil prices stablilze

“positive equities and gains in business metals this morning, as well as expectations that US crude oil shares will display a decline … are ingredients supporting to power a mild gain in Brent crude,” stated Bjarne Schieldrop, leader commodities analyst at SEB Markets in Oslo.

Weekly U.S. records on oil shares are predicted to show a 1.7-million-barrel draw on Thursday, analysts polled via Reuters said.

OPEC member Kuwait additionally lifted expectancies that manufacturers will follow a deal to lessen oversupply after its country-owned oil producer said on Wednesday it’d reduce output within the first region.

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Oil prices lifted by expected fall in US inventories

Oil prices lifted by expected fall in US inventories

Oil prices lifted by expected fall in US inventories

Crude Oil

  • Buz Investors Oil prices lifted The commodity is trading at $53.56 per barrel at 10:40 GMT this morning, 0.09% higher from the New York close.
  • Crude oil witnessed a high of $53.79 per barrel and a low of $53.44 per barrel during the session. In the New York session yesterday, crude oil rose 0.22% to close at $53.51 per barrel, after the
  • API disclosed that US crude oil inventories fell more than expected by 4.2 million barrels last week. Immediate downside, the first support level is seen at $53.18 per barrel, while on the upside, the first resistance level is at $53.87 per barrel.

 

Oil prices lifted

Buz Investors Oil prices lifted The commodity is trading at $53.56 per barrel at 10:40 GMT this morning, 0.09% higher from the New York close. Crude oil witnessed a high of $53.79 per barrel and a low of $53.44 per barrel during the

Oil prices lifted  Oil edged up on Wednesday, driven by expectations for a decline in U.S. crude futures crude inventories and bringing price gains for December to 10 percent, which would be the strongest performance in the final month of the year in six years.

Brent’s rally is its largest so far for any December since 2010, thanks to an unprecedented wave of investor buying ahead of an anticipated drop in supply anticipated drop in suppl from some of the world’s top exporters next year.

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Oil prices lifted

“Oil seems determined to end the year on a high note. Pre-holiday thinned trading and a fresh 14-year high for the dollar index failed to dampen bullish spirits,” PVM Oil Associates analyst Stephen Brennock said in a note.

An expected drop in US crude stocks helped underpin the market during Asian trading, but analysts said the effect may be short-lived.

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